تقریظ سوئم
بسم اللہ الرحمن الرحیم
نحمدہ ونصلی علی رسولہِ الکریم
مُوصوف ایک علمی گھرانے سے تعلق رکھتے ہیں۔ دینی علوم کے حوالے سے ان کے بزرگوں کی خدمات اظہر من الشمس ہیں ۔اِن کی کتاب ــ ’’ نگارشاتِ راشد‘‘ ایک علمی خزانہ ہے اِس میں طلباء و طالبات کے لیے متعدد مضامین شامل کی گئی ہیں۔ جو اپنی نظیرآپ ہیں حافظ محمد اکرم راشدؔ نے دیگر کتب اور مضامین سے خوشہ چینی کی بجائے فی البدیہہ مواد پیش کرنے کی مساعی جمیلہ کی ہے ۔ اِ ن کی تحریر میں چاشنی اور ندرت ہے۔ اِن کے مضامین جو’’ نگارشاتِ راشد ‘‘کے نام سے زیورِ طباعت سے مرصعّ ومزیّن ہو رہے ہیں عام قاری کے لیے بالعموم اور طلباء و طالبات کے لیے بالخصوص ممدو معاون ثابت ہوں گے۔ ادارہ کے مقابلہ جات ہوں یا ضلعی اور ڈویژن لیول کے مقابلہ جات ’’ نگارشاتِ راشد‘‘ میں شامل شدہ مضامین کفایت کریں گے ۔ یہ طلباء کے لیے نعمت مترقبہ سے کم نہ ہے ۔ موصوف کا ادبی دنیا میں ایک نام ہے اِ ن کو دیکھ کر متقدمین ادباء کی یاد تازہ ہو جاتی ہے ۔ دورانِ ملازمت بھی ادبی پروگرام کے حوالے سے محکمہ تعلیم میں اِن کی تحریریں محو گردش رہی ہیں ۔ اور انعام و اکرام کی حقدار گردانی گئی ہیں۔
اللہ تعالیٰ اِن کو مزید ایسے شاہ پارے پیش کرنے کی توفیق عطا فرمائے ۔
رانا محمد اظہر خاں
چیف ایگزیکٹو آفیسر (ایجوکیشن)
ڈسٹرکٹ ایجوکیشن اتھار ٹی ، رحیم یار خاں
The concept of cohesion is not only a semantics one that exists within the meaning of text; it refers to grammatical relations of the Text The concept of cohesion is not only a semantics one that exists within the meaning of text; it refers to grammatical relations of the Text that exist within surface structure of the text, and that define it as a text. That is why the study of cohesion is important in text linguistics, especially in the Text of holy Qur‘ān. Therefore the ancient researchers have chosen it in different ways in the Qur‘ānic textual analysis. The ancient Arab started the study of Cohesion to prove the Qur‘ānic text as “Mojza” and “ijaaz” because of its organization and arrangement of text according the “Nazem” “Insijaam” “Ittisaaq” “Iltehaam” and many others. The English term that substitutes these terms is just Cohesion and Coherence. So we can say that the Arab was doing well about the discourse/textual analysis of the texts, especially the Qur‘ānic textual cohesion was their main goal. This research work differ from previous works in many aspects, while the researcher focuses on the concept of cohesion and its various aspects, particularly in terms of the cohesion and coherence in Arabic Language in the light of Qur‘ānic text. That exist within surface structure of the text, and that define it as a text. That is why the study of cohesion is important in text linguistics, especially in the Text of holy Qur‘ān. Therefore the ancient researchers have chosen it in different ways in the Qur‘ānic textual analysis. The ancient Arab started the study of Cohesion to prove the Qur‘ānic text as “Mojza” and “ijaaz” because of its organization and arrangement of text according the “Nazem” “Insijaam” “Ittisaaq” “Iltehaam” and many others. The English term that substitutes these terms is just Cohesion and Coherence. So we can say that the Arab was doing well about the discourse/textual analysis of the texts, especially the Qur‘ānic textual cohesion was their main goal. This research work differ from previous works in many aspects, while the researcher focuses on the concept of cohesion and its various aspects, particularly in terms of the cohesion and coherence in Arabic Language in the light of Qur‘ānic text.
The basic purpose of this research is to investigate herding behavior, the role of culture, the effect of macroeconomic shocks on herding behavior, and the existence of contagion of herding due to the crisis and extreme shocks in the market. This study investigates the herding behavior towards market consensus in a set of Developed, Emerging and Frontier Markets of Asia, Asia Pacific and Europe. For the identification of herding behavior towards market consensus this study employs return dispersion models and the state space model. The time variation in herding behavior is identified by estimating return dispersion model through Kalman filter estimation. One of the main objective of this research is to determine the role of culture in driving herding behavior. This study employs Hofstede’s six cultural dimensions of culture and introduces them as an explanatory variable in the return dispersion model. This study utilizes ARIMA residuals of macroeconomic variables and introduce them in state space model to figure out the effect of unexpected shocks of this variable on investor herding behavior. This study focuses on behavioral link namely contagion of herding (pure contagion) in a given set of market and determines the cross country linkages of each market with a global leader (US) through extreme shocks in macroeconomic components or crisis. For the said purpose conditional correlation between herding measures is generated through diagonal VECH bivariate GARCH (1,1) model. The major findings of the study report significant effect of herding behavior in the majority of the markets. state space model measure provide better results for all measure. Culture play a significant role in the determination of herding behavior. The presence of cultural dimensions changes the magnitude of the herding behavior in sample countries. The herding behavior of investor is affected by some macroeconomic shocks hitting the specific market. But macroeconomic shocks do not seem to play a major role in defining herding behavior in most of the markets. Majority of the markets exhibit a strong correlation with US market which is seen as turning points of herding measure during a global financial crisis of 2007-2009. This correlation also increased due to some specific macroeconomic shocks. This study provides a complete analytical framework in developed emerging and frontier markets of Asia, Asia Pacific and Europe, where economic, cultural, behavioral and external factors are simultaneously integrated to provide a better explanation of herding behavior. Therefore, in its unique design, this research is an attempt towards bridging a gap between, cultural finance, behavioral finance, and standard finance.